27th Feb 2014 13:04
LONDON (Alliance News) - GCP Student Living PLC Thursday said it had entered a forward purchase agreement to buy a private student accommodation block that will be built adjacent to the University of Surrey in Guildford, its third asset in a growing portfolio of student digs in and around London.
In a statement, the student accommodation real estate investment trust said the new block, called Scape Guildford, will start being built in July and is scheduled for completion in the third quarter of 2015. It is expected to have about 140 bedrooms.
It didn't provide any financial details of the deal.
GCP Student Living targets properties in and around London. Its first asset is opposite Queen Mary University in London, while its second is adjacent to Royal Holloway in Surrey.
Its shares were up 0.2% at 107.50 pence Thursday.
By Steve McGrath; [email protected]; @stevemcgrath1
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